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tv   Real Money With Ali Velshi  Al Jazeera  August 28, 2013 2:30am-3:01am EDT

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information on that breaking story. until then we'll see you at 4:00.
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with an autographed jersey, and obama shared a few praise. >> coach shula retired with more wins than any coach in history. each time that record has been challenged, team after team has fallin short. >> michael eaves joins us to talk more about that. the president was having a lot what happens when social media uncovers unheard, fascinating news stories? it drives discussion across america. share your story on tv and online.
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mission. >> there's more to america, more stories, more voices, more points of view. now there's are news channel with more of what americans want to know. >> i'm ali velshi and this is "real money." this is "america tonight." sglovrjs our -- >> our news coverage reveal more of america's stories. [[voiceover]] when people need to be heard, stories need to be told, al jazeera is there. since 1996, we've told the human story. from the ground up. with a new point of view.
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>>this river is their road to freedom. [[voiceover]] committed, inspired, bold. >>we're on the frontline, but it's under attack. we were just talking about consumer confidence, a big one-day drop in the stock market may not erode your confidence in this economy, but a big oil spike will. stocks tumbled on tuesday with the dow closing down more than 170 points for the day. but that is just a little more than a percent. investors seem concerned about the possibility of an attack on syria, and they are also worried about oil. oil prices went up more than $3 a barrel on sunday. and they settled at the highest price in 18 months.
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we mark a point every day, 2:30 pm eastern as the settle price in oil. syria doesn't have much oil, but problems could spread into neighboring iraq or the gulf states. the ups and downs of the financial markets may effect many of us through our 401k retirement accounts. and the average balance in its plans is up approximately 11% from a year ago. that's good news. but the other part of the story is something most of us pay no attention to. fees that can eat away at a nest e.g. duerte reports. >> reporter: daniel karr is taking a break before returning to our job as a software engineer, but she has never
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taken a break from planning for the day she'll stop working. teenager. >> i got my first real job when i was about 16 working for duncan doughnuts. >> reporter: she started receiving fee disclosure forms last year. in 2012, the department of labor issued a new rule requiring plan participates get quarterly breakdowns of fees. >> i have to be honest with you, it's not something i have spent a lot of time diving into. >> the department of labor didn't widely sub i will size statements. >> be on the lookout for new 401k fee way. >> reporter: a recent survey by the employ benefit research institute shows only 53% of plan participates even noticed the disclosure documents.
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plan. >> i can't spend the time on a daily basis to constantly think about what is in my 401k, so i'm paying someone else to do that. >> reporter: those are percentages sliced off of the top. the resulting loss savings could leave you with less cash at retirement. invest $25,000 in a 401k plan at 7% compounding interest. after 35 years your nest egg will grow to $227,000. if all else stays the same, but fees and expenses are 1.5%, after 35 years, you will have lost $64,000 in assets because of those fees. your nest egg will be 28% smaller. you will have only $163,000. attorney marsha wagner has represented both companies and workers in lawsuits involving 401k plans.
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>> it's overly sophisticated and difficult to understand frankly. >> reporter: the frees are divided into three main categories. plan administration fees, including record keeping, accounting and legal services, individual service fees and investment fees. the largest category covering the cost of manage your money. look at all of these papers. the government only requires fees be listed but companies can do that however they like, and give fees whatever name they choose. like loan setup. personal choice retirement
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>> building a case against bashir al-assad. the u.s. is gathering evidence that he was behind the suspected chemical attack. >> from al jazeera as headquarters in doha, i'm here with the top stories from around the world. the rain has stopped but the water is still rising. flooding for forces thousands from their homes in northeast china. also ahead. [ sobbing ] >> conflicts reports on how many were killed but both sides say they will keep fighting in the democratic republic